Hillary Clinton's campaign secretly paid for the Steele Dossier – then Biden gave her CFO four years of regulatory power.
New reporting now shows exactly what he did with it.
What he did with that power – and who he did it to – is worse than Republicans suspected.
Gary Gensler Ran Hillary's Finances When the Steele Dossier Was Paid For
Gary Gensler was Biden's handpicked chairman of the Securities and Exchange Commission – the federal agency with the power to greenlight or strangle any public company in America.
He was Hillary Clinton's chief financial officer during the 2016 presidential campaign – the same campaign that secretly funded the discredited Steele Dossier through law firm Perkins Coie.
Clinton campaign chairman John Podesta testified before the House Intelligence Committee that Gensler "established the financial controls" and that "Gary" was at the top of the payment chain – the same payments that flowed to Christopher Steele.
Rep. Byron Donalds put Gensler under oath and asked him point-blank: did he facilitate payment for the Steele Dossier?
Gensler shook his head, started to answer "Sir," and after Donalds reminded him twice that he was under oath, finally said "it was not something I was aware of."
The CFO of a presidential campaign wasn't aware of a six-figure payment run through its primary law firm.
Biden put a man with that history in charge of regulating America's capital markets and investigating Trump.
In November 2021, Senator Elizabeth Warren publicly urged Gensler's SEC to investigate the SPAC merger involving Trump's Truth Social company.
In December 2021 – just weeks later – the SEC launched exactly that investigation, using what then-Senator J.D. Vance called a "novel legal theory" against the only major social media platform where Trump wasn't banned.
Vance confronted Gensler directly in a 2023 Senate hearing.
"You can make a pretty good argument that the SEC was using its enforcement powers to silence the chief political rival of the current president," Vance said.
Gensler also staffed his agency with Melissa Hodgman – Associate Director of Enforcement and wife of Peter Strzok, the FBI agent who led the Russia collusion probe and was fired for sending anti-Trump texts on his government phone.
The SEC slow-walked the Truth Social merger for years, causing the company's stock to crater and investors to bleed.
Trump Media called it "inexcusable obstruction" and accused the SEC of "obvious conflicts of interest" and "clear indications of political bias."
The merger was finally cleared in February 2024 – after DWAC was hit with an $18 million fine and insider trading charges against its own board members.
Gensler's SEC turned a routine regulatory review into a three-year financial wrecking ball aimed at the one platform keeping Trump in the public conversation.
The SEC Sued Elon Musk Six Days Before Trump Took Office
Six days before Donald Trump was sworn in for his second term, the SEC filed a lawsuit against Elon Musk.
Biden's regulators picked their moment carefully.
Musk had just agreed to lead the Department of Government Efficiency inside the incoming Trump administration.
The SEC's case rested on the claim that Musk filed disclosure paperwork on his Twitter purchase eleven days too late – and that this gap allowed him to underpay for shares by $150 million.
The investigation had been open since April 2022, launched the same month Musk announced he was buying Twitter – the same month Democrats lost control of the platform they had used to silence Trump.
Musk himself predicted it in May 2022: "Now, watch their dirty tricks campaign against me unfold."
After Trump took office, a federal judge approved a $1.5 million settlement – a fraction of what the SEC had demanded, and proof of just how thin the underlying case always was.
Gensler's SEC also tried to enforce a settlement condition requiring Musk to get pre-approval before posting on social media.
Musk fought it all the way to the Supreme Court, arguing the condition violated constitutional rights.
The Court declined to take the case – but an SEC that demands the right to pre-screen a man's posts before he publishes them is not a regulatory agency doing its job.
The SEC Was One Arm of Biden's Weaponization Machine
The House Select Subcommittee on the Weaponization of the Federal Government documented a "two-tiered system" across two years of oversight – prosecuting Trump allies while shielding anyone with Democrat connections.
The Biden FBI tapped sitting senators' phones and put 92 conservative organizations under surveillance.
Biden’s IRS targeted Christian churches for their sermons.
His DOJ prosecuted pro-life protesters while letting pro-abortion violence slide.
And the Biden SEC handed regulatory power to Hillary Clinton's campaign CFO and pointed him at Trump.
Gary Gensler is gone now.
What he left behind – investors he harmed, companies he slow-walked into the ground, Americans he charged while covering for his political allies – is the record of what four years of weaponized regulation actually looks like.
Sources:
- Ashe Short, "From Musk to Truth Social: Critics Say Biden's SEC Targeted Trump's Allies," Just the News, July 10, 2026.
- "Senator Vance Questions SEC Chair Gary Gensler on Weaponized Investigations Against Political Opponents," Office of Senator J.D. Vance, September 12, 2023.
- Timothy Nerozzi, "Donalds Grills Biden SEC Commissioner on Steele Dossier Payment," Fox News, April 18, 2023.
- "SEC Chairman's Role in Steele Dossier Payments Adds to Questions About Trump Probe Conflicts," Just the News, September 9, 2022.
- Rep. Byron Donalds, Letter to Gary Gensler Regarding Clinton Campaign, Office of Congressman Byron Donalds, May 17, 2024.
- "Biden-Era FBI Targeted 92 Conservative Groups, Including TPUSA," Washington Examiner, September 18, 2025.
- "Ten Years of Biden Weaponization Produced Enemy List That Makes Watergate Water Under the Bridge," Just the News, April 28, 2026.
